ABB Ltd. Chief Executive Officer Joe Hogan is building on his deal-making credentials to bolster the Swiss engineering conglomerate with acquisitions, fueling earnings and eclipsing the performance of competitors.
ABB Ltd. investors, reeling from Chief Executive Officer Joe Hogan’s announcement last month to step down, want a more frugally-minded replacement to integrate the $10 billion worth of U.S. acquisitions he left behind.
ABB Ltd. Chief Executive Officer Joe Hogan has opted to take nibbles rather than bites out of the company’s $9.4 billion in cash reserves as the Swiss company seeks to add to its range of power-supply equipment.
ABB Ltd., the world’s largest supplier of power grids, said Ulrich Spiesshofer will become chief executive officer, an internal promotion of a manager who integrated the Swiss company’s largest acquisition.
ABB Ltd., which last week announced the surprise departure of Chief Executive Officer Joe Hogan, said Prith Banerjee, board member and head of technology, is quitting to return to the U.S. after one year in the post.
ABB Ltd., the world’s largest maker of power transformers, rose as much a 3.7 percent in Zurich trading as Chief Executive Officer Joe Hogan’s drive to trim costs helped to boost profitability in the first quarter.